09.07.12
Stagnating
Krugman graphs the state of unemployment in this country …
“A plunge and a stabilization at a depressed level, which has now gone on for almost three years,” he says.
The unemployment rate fell only because people have either stopped looking for work or are leaving the workforce for retirement.
The message is out: Getting a job is much like playing the daily lottery. The odds are bad and if you, by chance, win something, the payoff’s not very good because almost all the prizes are lousy.